Don’t be fooled by the ‘value’ tag on these tech stocks. Many can provide plenty of growth too

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There's still plenty of value in tech stocks. Facebook, Oracle and Micron Technology are reasonably valued when considering the outlook for their sales growth, Philip van Doorn writes.

With another round of federal stimulus on the way and expectations for solid growth for the U.S. economy this year, value stocks have been rallying. Stocks with low valuations tend to do well during economic growth phases.

So an easy way to play value at this time is to buy shares of an exchange traded fund that tracks the Russell 1000 Value Index RLV, +0.32%, such as the iShares Russell 1000 Value ETF IWD, +0.31% or the Vanguard Russell 1000 Value ETF VONV, +0.32%. As always, do your own research on any investment you consider to make an informed decisions.

The curious case of Facebook You might wonder about Facebook, which lives in both the value and growth worlds. Its forward P/E valuation of 23.2 is relatively low. But Facebook is very much a growth stock — sales increased 22% last year, and analysts expect even better revenue growth of 25% in 2021. There are 16 companies on the list that are expected to produce double-digit increases in sales in 2021, including Skyworks Solutions Inc. SWKS, +3.63% and Qualcomm Inc. QCOM, +3.03%. Both are expected to grow their revenues by 21% this year.

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